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Dealing with Credit Unions for a Short Sale

Posted by MaryAnn Dempsey on April 14, 2011 at 4:54am
As a Short sale Specialist, I have never dealt with such a bunch of unmotivated employees at Tremont Credit Union, who not only are so disorganized, but would rather foreclose on a borrower, instead of trying to, #1, possibly and likely obtain more money from a short sale; #2, take a chance that if the home becomes foreclosed on and then becomes vacant, there will be a possibility that the home could be vandalized, etc., when winter comes upon us, again, there could be possible pipe bursting, etc, causing even more damage and less value to the home. Why in the world would Tremont Credit Union reject a Short Sale and not counter offer. Isn't something more, better than something less?  At least in my world it is. Even if you try and ask the Chair person and believe it or not a Board member to help, guess what, they are all for it, but then choose to ignore you after the fact. We know that banks are not happy about attorneys negotiating the short sale files, as it will cost more money out of their pocket, but, Tremont Credit Union has left me no choice, so I guess they have the extra money to spend. My only concern is, that is not what I read in the business news a few weeks ago, so again, I am quite baffled.
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Comments

  • Laura Giannotta April 15, 2011 at 4:30am
    I'm just starting a short sale with the NY Municipal Credit Union.  I hope I have a better experience!
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